Coffee Exports to Hit US$3 Bln This Year
Coffee exports are forecast to hit 1.2 million tons and earn US$3 billion in revenue, according to the Ministry of Agriculture and Rural Development (MARD).
The exports would be equal to last year's quantity but increase by 10 percent in quality, the Ministry said.
The prediction was made as the International Coffee Organization's pessimistic information about the global coffee production in the 2011-12 crop, which was estimated at over 132.4 million bags, down by 1.3 percent against the previous crop.
Vietnam pocketed US$350 million from exporting 170,000 tons of coffee in the first month of this year, marking a year-on-year decrease of 21 percent in volume and 15 percent in turnover.
Vietnamese coffee is exported to nearly 80 countries and territories, with the US, Germany and Belgium the largest importers.
In order to ensure the sustainable development of the coffee sector, the Vietnam Coffee and Cocoa Association Chairman Luong Van Tu said coffee growers and businesses should further unite in farming, processing and price setting.
Market forecasting and analyzing of market information must be improved.
VGP
Vietnamese
